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Icici Bank
(NYSE:IBN)
Icici Bank (IBN) vs. SPDR S&P 500 ETF (SPY)
Icici Bank Business Overview & Revenue Model
Icici Bank Earnings Call Summary
Icici Bank Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.02T | 2.95T | 2.35T | 1.85T | 1.58T | 1.61T |
| Gross Profit | 2.05T | 2.01T | 1.60T | 1.29T | 989.30B | 964.98B |
| EBITDA | 1.01T | 1.65T | 635.04B | 488.90B | 280.08B | 218.35B |
| Net Income | 528.91B | 510.29B | 442.56B | 340.37B | 251.10B | 183.84B |
Balance Sheet | ||||||
| Total Assets | 26.69T | 26.42T | 23.64T | 19.58T | 17.53T | 15.74T |
| Cash, Cash Equivalents and Short-Term Investments | 1.97T | 2.14T | 1.90T | 1.64T | 2.14T | 1.82T |
| Total Debt | 2.15T | 2.04T | 2.01T | 1.84T | 1.59T | 1.40T |
| Total Liabilities | 23.23T | 23.13T | 20.94T | 17.37T | 15.65T | 14.07T |
| Stockholders Equity | 3.30T | 3.14T | 2.56T | 2.14T | 1.82T | 1.58T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -800.22B | 1.54T | -62.39B | 562.51B | 1.36T |
| Operating Cash Flow | 0.00 | -752.52B | 1.57T | -37.71B | 581.11B | 1.38T |
| Investing Cash Flow | 0.00 | -772.88B | -1.46T | -680.05B | -393.21B | -629.87B |
| Financing Cash Flow | 0.00 | 2.04T | 2.47T | 247.91B | 174.51B | -546.67B |
Icici Bank Technical Analysis
Icici Bank Risk Analysis
Icici Bank Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $162.44B | 20.26 | 14.17% | 3.03% | -1.78% | 0.65% | |
73 Outperform | $84.81B | 14.11 | 11.31% | 3.11% | 1.79% | 30.93% | |
71 Outperform | $78.03B | 18.09 | 8.36% | 3.19% | -20.94% | -18.71% | |
69 Neutral | $77.55B | 10.84 | 19.90% | 9.77% | 11.82% | 3.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $97.01B | 14.44 | 9.14% | 2.31% | -2.84% | 25.48% | |
63 Neutral | $113.63B | 17.93 | 17.41% | 0.85% | 10.85% | 7.98% |
Icici Bank Corporate Events
On December 23, 2025, ICICI Bank Limited filed its Semi-Annual Report for the period from April 1, 2025 to September 30, 2025 with the Director of the Kanto Local Finance Bureau in Japan, in compliance with Japan’s Financial Instruments and Exchange Law. The submission, made through Japan’s EDINET electronic disclosure system and referenced in a Form 6-K to the U.S. Securities and Exchange Commission, underscores the bank’s adherence to cross-border regulatory reporting standards and its commitment to transparency for Japanese and international investors, covering interim financial information, business conditions and other material developments up to the filing date.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
ICICI Bank Limited has announced that its Board of Directors will meet on Saturday, January 17, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. In line with Indian securities regulations on insider trading, the bank will impose a trading window closure for all designated persons, including directors, and their immediate relatives from January 1, 2026, to January 19, 2026, a move intended to ensure fair disclosure and prevent misuse of unpublished price-sensitive information ahead of the results announcement.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On December 19, 2025, ICICI Bank disclosed that its subsidiary, ICICI Prudential Asset Management Company Limited, completed an initial public offering in which Prudential Corporation Holdings Limited sold 48,972,994 equity shares of ICICI AMC with a face value of ₹1 each at an issue price of ₹2,165 per share, and that ICICI AMC’s shares were listed the same day on BSE Limited and the National Stock Exchange of India. ICICI Bank said it intends to retain its majority shareholding in ICICI AMC, underscoring the strategic importance of the asset management arm to the group’s overall franchise while broadening ICICI AMC’s access to capital markets and diversifying its shareholder base.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On December 17, 2025, ICICI Bank Limited reported that its subsidiary, ICICI Prudential Asset Management Company, has filed the final prospectus with the Registrar of Companies, Delhi and Haryana at 2:05 a.m. for its initial public offering. The IPO comprises an offer for sale of up to 48,972,994 equity shares of face value ₹1 each by Prudential Corporation Holdings Limited, following earlier disclosures on December 6, 2025 regarding the red herring prospectus filing and the announcement of the price band. The move advances the planned listing of ICICI AMC, which could unlock value in ICICI Bank’s asset management arm and potentially broaden its investor base, while formalizing the next step in the monetisation of its joint venture with Prudential.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On December 17, 2025, ICICI Bank Limited received an order under Section 73 of the Maharashtra Goods and Services Tax Act, 2017 from the Additional Commissioner of CGST and Central Excise, Mumbai East Commissionerate, raising a goods and services tax demand of approximately ₹237.9 crore, including tax of about ₹216.27 crore and penalty of about ₹21.63 crore, plus applicable interest, relating to services provided to customers maintaining specified minimum balances in their accounts. The bank noted that it is already involved in litigation, including writ petitions, on similar issues raised in past orders and show-cause notices; as the cumulative exposure has now crossed its materiality threshold, it has disclosed the matter to investors and indicated it will challenge the latest order through appropriate legal remedies within the prescribed timelines, underscoring ongoing regulatory and tax risk around its fee and service structures.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
ICICI Bank announced that its subsidiary, ICICI Prudential Asset Management Company, has filed a Red Herring Prospectus with the Registrar of Companies for an initial public offering (IPO) of up to 48,972,994 equity shares. The IPO, scheduled to open for public subscription from December 12 to December 16, 2025, includes a reservation for eligible ICICI Bank shareholders. This move is expected to enhance ICICI Bank’s market positioning and provide stakeholders with new investment opportunities.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On December 6, 2025, ICICI Bank announced the initial public offering (IPO) of its subsidiary, ICICI Prudential Asset Management Company Limited (ICICI AMC). The price band for the IPO has been set between ₹2,061 and ₹2,165 per equity share, with a minimum bid lot of six shares. This development is a significant step for ICICI AMC, potentially enhancing its market presence and providing growth opportunities. The announcement follows the SEBI regulations and is expected to impact stakeholders by offering a new investment avenue.
The most recent analyst rating on (IBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On December 2, 2025, Moody’s reaffirmed the credit ratings of ICICI Bank’s facilities and instruments, as announced in a press release. This reaffirmation by Moody’s is significant for ICICI Bank as it reflects the bank’s stable creditworthiness and could positively impact its market positioning and stakeholder confidence.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On November 27, 2025, ICICI Bank received approval from the Reserve Bank of India to acquire 100% shareholding in ICICI Prudential Pension Funds Management Company Limited from ICICI Prudential Life Insurance Company Limited, subject to certain conditions. This acquisition aims to make ICICI PFM a wholly owned subsidiary, potentially enhancing ICICI Bank’s market position in the pension fund management sector, pending further regulatory clearances.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On November 25, 2025, ICICI Bank Limited received a compounding order from the Reserve Bank of India due to regulatory violations, including delays in filing certain forms and receiving funds through ineligible payment modes. The bank has been directed to pay a penalty of INR 22,73,554. This action highlights the importance of compliance with regulatory requirements and could impact the bank’s operational focus on adhering to financial regulations.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On November 28, 2025, ICICI Bank Limited announced the successful issuance of 3,945 unsecured, subordinated, non-convertible Tier 2 bonds, aggregating to ₹39,450 million. These bonds, compliant with Basel III norms, were privately placed with selected investors and are rated ‘AAA; Stable’ by CARE Ratings and ICRA Limited. This strategic move is expected to bolster the bank’s capital adequacy and support its growth initiatives, reflecting positively on its market positioning and financial stability.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On November 13, 2025, ICICI Bank received a favorable decision from the Appellate Joint Commissioner under the Telangana Goods and Services Tax Act, 2017, which nullified a previous tax demand and penalty imposed by the Telangana Goods and Services Tax Department. This decision effectively disposes of the tax demand, potentially impacting the bank’s financial obligations positively and reinforcing its compliance standing.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
ICICI Bank Limited announced that the Reserve Bank of India (RBI) approved an amendment to its ADR Deposit Agreement, allowing registered American Depository Shares (ADS) holders to exercise voting rights. This approval, communicated on October 31, 2025, is contingent upon the ADS holders demonstrating compliance with Section 12B of the Banking Regulation Act, 1949, and relevant guidelines. This development could enhance shareholder engagement and potentially impact the bank’s governance structure.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On October 30, 2025, ICICI Bank Limited announced that ICRA Limited has reaffirmed the credit ratings of the bank’s facilities and instruments. This reaffirmation by ICRA, a prominent credit rating agency, is a positive indicator of ICICI Bank’s financial stability and creditworthiness, potentially enhancing stakeholder confidence and supporting the bank’s position in the financial market.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On October 28, 2025, ICICI Bank announced a change in its website domain from www.icicibank.com to www.icici.bank.in, in compliance with RBI guidelines. The bank has ensured a smooth transition, with automatic redirection from the old domain to the new one, allowing stakeholders to access services and content as per regulatory requirements. This change reflects the bank’s commitment to adhering to regulatory standards and enhances its digital presence.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On October 24, 2025, ICICI Bank announced that it has uploaded the transcripts of its recent media conference call and earnings call with analysts and investors for the quarter and six months ended September 30, 2025, on its website. This disclosure under the Indian Listing Regulations aims to ensure transparency and provide stakeholders with insights into the bank’s financial performance, potentially impacting investor confidence and market positioning.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On October 18, 2025, ICICI Bank announced that it has prepared an investor presentation for its earnings call with analysts and investors, covering the financial results for the quarter and six months ended September 30, 2025. This presentation is available on the bank’s website, reflecting the bank’s commitment to transparency and communication with stakeholders.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
ICICI Bank announced that it has uploaded the audio recordings of its financial results call for the quarter and six months ended September 30, 2025, on its website. This disclosure, dated October 18, 2025, provides stakeholders, including media, analysts, and investors, with access to detailed discussions on the bank’s financial performance, potentially impacting investor relations and market perceptions.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On October 18, 2025, ICICI Bank’s Board of Directors approved the unaudited financial results for the quarter and six months ending September 30, 2025. The bank reported a net profit of ₹12,358.89 crore for the quarter, reflecting a solid financial performance. Additionally, the Board appointed Ms. Vijayalakshmi Iyer as an Additional Independent Director, effective December 1, 2025, and announced the retirement of Mr. Balaji V.V. from senior management, effective November 1, 2025. These developments are expected to influence the bank’s strategic direction and governance structure.
The most recent analyst rating on (IBN) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.
On September 29, 2025, ICICI Bank Limited received a Show Cause Notice under section 73 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate. The notice raised a GST demand of ₹216.27 crore, including tax, interest, and penalties, for services provided to customers maintaining specified minimum balances. This issue has been a subject of previous litigation, and due to the significant amount involved, the bank is reporting this matter and plans to file a reply within the prescribed timelines.
The most recent analyst rating on (IBN) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Icici Bank stock, see the IBN Stock Forecast page.